HyperDAO: DAO as a Core Element of Web3
The Rise of Enterprises
In 1820, 20% of the U.S. population was working for wages, while the rest were either farmers, fishermen, or merchants. This shows that people were not naturally predisposed to working under somebody, or working in an “enterprise”.
The concept and history of "enterprises" have a profound impact on society. It is essentially a product that was born of significant modernization over the past century. As society undergoes phases of development and progression, its demand for labor will also increase. It then becomes inevitable, or perhaps more logical, for labor to be concentrated under a highly centralized management organization. In this case, the concept of “enterprises” was the product of society to match labor with large-scale employment opportunities.
New changes have come as the world undergoes further changes. Today, the emergence of Decentralized Autonomous Organizations (DAO) seeks to address the existing issues of enterprises in the context of large-scale operations.
As a decentralized infrastructure in Web3, HyperDAO aims to decentralize governance through cryptography and blockchain technology, so that its members have the opportunity to engage in the future development of the platform. This also means that the members would have a say in how the platform is managed, and they would have the chance to grow along with HyperDAO.
The most attractive part of HyperDAO is that it allows users (individuals) to have an "ownership" - we can imagine that in the original content of an enterprise, "ownership" is usually the sole rights of business owners, while employees typically work for a pre-determined rate of wages with little to no rights. These employees usually have no claim to the benefits of their labor beyond their fixed remuneration, which may be a key factor as to why the gap between the rich and the poor is increasing. In a sense, this exploitation of labor is a social relationship based on the asymmetry of power between workers and their employers.
DAO as an Important Part of Web3
DAO allows its members to unleash their creativity. There is a growing trend of manufacturers relying on artificial intelligence and machine learning technologies in lieu of manual labor. As such, there is a definite possibility of artificial intelligence replacing labor on a large-scale basis. In such an environment, HyperDAO is pushing and encouraging innovation and creativity in its members to mitigate against the impact of artificial intelligence in the context of labor loss.
We were surprised to find that a large number of DAOs already exists across multiple sectors; including social media, content creation, product curation, services, app development, etc. These DAOs manage funds that amount to tens of billions of dollars, and it seems like this is just the beginning. The growing scale of DAOs has attracted global attention, and new institutions and talents are pouring into the sector. If we say that the concept of “enterprises” is what defines our modern society, then the continuous development of DAO would eventually usher in a new digital era. Sooner or later, DAO will become an important part of the new Web3.
One of the core pillars of Web3 is "ownership", which gradually leads to users controlling the ownership of their own data, thereby strengthening personal privacy. As decentralization becomes increasingly important, data security will also become an important issue to tackle. By adopting key infrastructure from the crypto sector, the world of Web3 could help millions or more employees move toward "ownership" of their assets in the truest sense. When DAOs become a core element of Web3, it will make up for the deficits in the existing operational model of enterprises, allowing more large-scale collaboration between users.
Now that we have addressed the importance of DAOs in the world of Web3, let us explore the biggest advantages of HyperDAO:
1. HyperDAO allows individual users to truly enjoy "ownership", and fully unleashes user creativity in the labor market;
2. Not only does HyperDAO incentivize user engagement, it also fundamentally changes the way contributors view their own efforts and labor;
3. HyperDAO allows all work to be based on the pursuit of a larger goal; a goal that is collectively shared and enjoyed by every single member of the community. This can motivate the members to do more, to bring about unprecedented success, and to create a unique atmosphere for the community.
Due to its complexity, there are still many who do not understand what a DAO is. However, more and more enterprises are starting to explore a decentralized operating model. We believe that decades from now, more people will work in decentralized entities rather than large centralized corporations.
HyperDAO has been developing at a great pace in the past couple of years. With the success of its cross-chain bridge to Binance Smart Chain, HyperDAO has attracted the attention of quality projects around the world. As the concept and popularity of DAO continues to evolve, HyperDAO believes that it will become an integral part of our digital world.